Here's my thought process as I configured my new 10.04 install.
Gee, that message icon is spaced awkwardly. Why is it so far from the volume control?
I'll just move it closer *right-clicks* oh.. can't do that
Fine, I'll delete it then *right-click - remove from panel*
poof, message and volume icons disappear
Sorry if I can't express this in a more eloquent or useful way at the moment, but the fact that these two completely unrelated functions are tied into the same tray applet strikes me as so utterly STUPID, that I had to come here and complain.
WHY? Who makes these design decisions? (don't answer that, I already saw the post about UI consistency in the panel, but I disagree vehemently.)
It was fine the way it was.
So, after waaaay too much reading, I learned that you can remove the message part of the applet by uninstalling a package. That's right, you have to apt-get remove indicator-messages if you want to get rid of it. I don't know about you, but back in my day panels were configurable. If you didn't like something, you right clicked on it, and hit "remove from panel", or failing that, went into some menu and unchecked the "display annoying icon" box. You don't uninstall a freaking package! This is such a hack it's not funny, and I expect better from a distro like Ubuntu.
Next, I tried learning to live with the new applet. Like its predecessor, you can scroll the mouse wheel over it to raise and lower the volume. Great. I like this feature, and use it often. Unlike its predecessor, when you click on the icon to see the volume bar, the scrolling stops working. So, you can scroll to change the volume, but you can't see what you're changing while you change it. Ridiculous.
Try it yourself if you want - run gnome-volume-control-applet to start up the old one.
At this point, I've had it with the entire indicator-applet system. I want it gone now. I was just about to remove it from the panel when my power cord came unplugged and .. guess what else is part of indicator-applet...
All I ask is that it's possible to configure it the way it was in the last release without too much of a hassle. This was frustrating and not at all intuitive.